Power Finance Corporation Ltd

PFC is the most preferred financial Institution Providing affordable and competitive Product and service with efficient and internationally integraded sourcing and servicing, partnering the reformes in indian power sector and enhacing value to its stakeholders.

Pros:
Stock is trading at 0.79 times its book value
Stock is providing a good dividend yield of 6.83%.
Company has been maintaining a healthy dividend payout of 42.42%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
The company has delivered a poor growth of 9.00% over past five years.
Company has a low return on equity of 13.02% for last 3 years.

Peer Comparison Sector: Finance // Industry: Finance - Term-Lending Institutions

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
6,705 7,106 6,928 7,010 5,719 6,729 6,848 6,246 6,162 6,968 7,407 7,362
636 382 349 181 4,559 1,178 959 276 548 69 35 -188
Operating Profit 6,069 6,724 6,579 6,829 1,160 5,551 5,890 5,969 5,614 6,899 7,372 7,551
OPM % 91% 95% 95% 97% 20% 82% 86% 96% 91% 99% 100% 103%
Other Income 82 53 71 53 78 52 0 2 214 1 6 2
Interest 4,180 4,286 3,986 4,062 4,099 4,167 4,290 4,260 4,381 4,858 5,320 4,790
Depreciation 2 1 1 1 2 1 1 2 2 1 1 2
Profit before tax 1,970 2,490 2,664 2,819 -2,863 1,435 1,599 1,710 1,446 2,041 2,056 2,760
Tax % 36% 31% 30% 31% -19% 22% 23% 29% 35% 33% 34% 25%
Net Profit 1,260 1,713 1,873 1,950 -3,409 1,122 1,226 1,217 936 1,373 1,355 2,076
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
3,832 5,033 6,571 8,008 10,132 13,034 17,269 21,327 24,897 27,554 27,011 26,566 27,900
67 99 140 121 187 334 247 730 1,080 2,012 5,470 1,199 464
Operating Profit 3,764 4,934 6,430 7,888 9,945 12,700 17,021 20,597 23,817 25,542 21,541 25,367 27,436
OPM % 98% 98% 98% 98% 98% 97% 99% 97% 96% 93% 80% 95% 98%
Other Income 7 1 3 69 29 3 4 10 11 10 7 171 223
Interest 2,335 3,144 4,433 4,940 6,424 8,593 11,052 13,045 15,444 16,485 16,433 17,205 19,349
Depreciation 4 4 4 4 5 5 6 5 6 6 6 6 6
Profit before tax 1,433 1,787 1,997 3,013 3,544 4,104 5,967 7,558 8,378 9,061 5,110 8,327 8,303
Tax % 20% 27% 27% 22% 26% 26% 26% 28% 29% 33% 58% 30%
Net Profit 1,142 1,312 1,460 2,357 2,620 3,032 4,420 5,418 5,959 6,113 2,126 5,855 5,740
EPS in Rs 4.81 5.42 6.02 9.89 10.98 11.00 16.17 19.75 21.67 21.75 8.05 22.18
Dividend Payout % 23% 31% 31% 22% 22% 26% 21% 22% 20% 30% 62% 35%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.10%
5 Years:9.00%
3 Years:2.19%
TTM:9.23%
Compounded Profit Growth
10 Years:16.14%
5 Years:5.82%
3 Years:-0.58%
TTM:3584.33%
Return on Equity
10 Years:16.25%
5 Years:15.57%
3 Years:13.02%
Last Year:15.34%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
1,148 1,148 1,148 1,148 1,148 1,320 1,320 1,320 1,320 1,320 2,640 2,640 2,640
Reserves 8,795 9,637 10,559 12,777 14,035 19,388 22,256 26,055 30,899 34,446 33,830 37,221 35,634
Borrowings 33,584 40,648 52,160 67,108 85,599 110,126 139,473 159,215 187,773 200,484 202,588 229,538 51,223
3,254 3,407 4,411 2,414 3,871 4,758 6,188 7,598 8,683 10,405 19,420 17,081 205,987
Total Liabilities 46,780 54,839 68,279 83,447 104,652 135,592 169,237 194,187 228,676 246,655 258,479 286,480 295,483
83 77 75 73 74 76 74 71 66 64 63 65 26
CWIP 0 0 0 2 2 0 0 0 0 0 0 0 0
Investments 59 66 36 31 54 59 161 352 851 2,677 3,591 2,336 2,781
46,639 54,696 68,168 83,341 104,522 135,456 169,001 193,765 227,759 243,914 254,825 284,079 292,676
Total Assets 46,780 54,839 68,279 83,447 104,652 135,592 169,237 194,187 228,676 246,655 258,479 286,480 295,483

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-7,165 -6,261 -10,757 -13,444 -16,603 -26,997 -25,089 -22,170 -21,462 -13,339 2,087 -27,528
-41 -8 26 8 -26 -42 -93 -190 -472 -1,856 -475 1,138
7,349 6,436 10,449 14,437 17,581 26,676 27,947 17,671 26,894 10,203 1,475 23,813
Net Cash Flow 143 167 -282 1,001 952 -362 2,765 -4,689 4,961 -4,991 3,087 -2,577

Ratios Standalone / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 10% 10% 11% 11% 11% 11% 12% 12% 12% 11% 9% 10%
Debtor Days 0 0 0 0 0 0 0 0 0 0 0 0
Inventory Turnover

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